G-sec Market: The benchmark 10-year security 6.05% GOI 2019 opened at Rs93.50 implying a yield of 6.97% lower than previous close of 7.00%. The yields opened lower tracking surplus liquidity in the system.
The Markets would be awaiting responses to multiple auctions scheduled for today- T-Bill, OMO, underwriting for G-sec and State Development Loan. The yields are likely to be rangebound between 6.85% - 7.00%.
Money market: The Call rate and CBLO rate opened at 3.55% and 2.00% respectively. The money market rates are expected to ease tracking adequate liquidity in the system.
Swap Market: The 5Y OIS swap rate opened at 5.64% lower than previous close of 5.68%. The OIS swap rates are expected to trade rangebound, tracking the movement in G-sec yields.
Forex Market: The INR opened at Rs50.61 against the USD compared to previous closing level of Rs50.06. Rupee is expected to trade in the range of 50.30 - 50.80.